VillageTraderZA

Nice Cup and handle on Mondi

Long
JSE:MNP   MONDI PLC
Trade Summary 11 April 2021
Entry: R377. 01
Stop loss: R368.88
Risk per share: -R8.13
Quantity: 15.8
Risk ZAR: -R128.45
Risk: -1.59%%

We have a nice cup and handle pattern on the stock. I’m looking for a break above the neck line. A close above 39350c. I will add to the position and trail my stop to around 37590c. The stock seems to have shrugged off the dividend adjustment.
Comment: Position

Everage Entry: R377.01
Quantity: 15.8
Stop loss: R366.80 (-R10.21 reward per share)
Profit/Loss if stop is hit ZAR: -R161.32 (-2.06%)

Waiting for a close above: R393